- (1.) Instant Misc. Application-123/2007 has been filed by M/s. Blooming Engineers (P.) Ltd. (Respondent-3 in Co. Appl. 79/2005) claiming interest over the amount of Rs. 2,30,65,000 (Rupees two crores, thirty lakhs & sixty five thousand) deposited being highest bidder in auction proceedings initiated by Recovery Officer, Debts Recovery Tribunal, Jaipur, which have finally been set aside by this Court vide order dated 23-1-2007 in Co. Appl.-79/2005 and notice published in Rajasthan Patrika on 13-11-2005 for auction scheduled on 22-11-2005 and sale certificate dated 7-6-2006 were quashed; and the IDBI was directed to refund a sum of Rs. 2,30,65,000 to M/s. Blooming Engineers (P.) Ltd., (Applicant herein) - pursuant to which the amount {supra) was refunded vide pay order dated 12-2-2007 duly received on 16-2-2007.
(2.) Prayer made in this Misc. Application is basically for clarification sought for in Judgment dated 23-1-2007 rendered by this Court to the effect that the applicant is entitled for interest having accrued on having deposited the amount {supra) with the Financial Institution (IDBI) from the date of its deposit till actual refund whereof.
(3.) Facts relevant for adjudication of the interest being claimed by applicant herein are that M/s. Kesari Vanaspati Products Limited was ordered to be wound up by Company Court vide order dated 23-1-2004 in Co. Petition No. 28/2003 and accordingly, the Official Liquidator attached to the court was appointed as provisional Liquidator with the direction to take charge over all the property and effects of the company-in-liquidation. The charge of assets and the record of company-in-liquidation was taken over by the Official Liquidator on 3-4-2004. The Industrial Development Bank of India Ltd., Jaipur (IDBI), Vijaya Bank, Jaipur, State Bank of Bikaner & Jaipur (SBBJ) and Rajasthan State Industrial Development & Investment Corporation Ltd., (RIICO) were the secured creditors of company-in-liquidation, out of which except RIICO, other secured creditors had opted to remain out of winding up proceedings.;